Top Energy Stocks
XOM +1.38%
CVX +2.58%
COP +3.07%
SLB +2.53%
OXY +1.27%
Energy stocks were ending sharply higher, with the NYSE Energy Sector Index rising 3.1% while shares of energy companies in the S&P 500 were up more than 2.6% as a group. Crude oil for March delivery settled $3.23 at $29.44 per barrel while March natural gas futures fell 3 cents to $1.97 per 1 million BTU.
In company news, Whiting Petroleum ( WLL ) slumped Friday after Moody's Investors Service today reduced its debt rating for the oil and natural gas producer by five notches deeper into junk territory to Caa1 from Ba2.
The downgrade reflects expectations of "very weak cash flow-based leverage metrics in 2016 and particularly 2017, when its hedges roll off," Moody's said.
WLL shares were down over 8% at $4.51 each in late trade, earlier sinking to a session low of $4.15 a share.
In other sector news,
(+) SYMX, Promotes DeLome Fair to be its new chief executive, effective on Monday, Feb. 15. She replaces Robert Rigdon, who will remain on the SYMX board and has been named vice chairman.
(-) UPL, Begins legal action against the authors of a recent attack blog produced by short-sellers.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
